What is Nano PLC? | PLC and SCADA Technology | How Does it Works..?
The Nano PLC market has witnessed eminent growth in the last couple of years globally. The increasing demand for low-end automation in industrial, commercial, and residential applications is driving the demand for these products worldwide. The advantages such as easy installation, low complexity, and cost-effectiveness of nano PLCs over micro and small PLCs are driving the growth of the market in diverse industries. The high adoption of automation in the industrial and residential sectors is the major factor fueling the growth of the nano PLC market in developed countries in North America and Europe. The adoption of advanced technologies such as artificial intelligence, blockchain, robotics, cloud computing, and predictive analytics is high in the industries in these regions. The rising trend of workplace, factory, and home automation is also boosting the demand for nano PLCs in APAC. With APAC, other developing regions such as the MEA and SAM are also expected to offer ample growth opportunities to the nano PLC market players in the near future.
In Terms Of Revenue, The Nano PLC Market Was Valued At US$ 3.67 Bn In 2019 And Is Projected To Reach US$ 5.67 Bn By 2027; It Is Expected To Grow At A CAGR Of 5.7% From 2020 To 2027.
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The nano PLC players are likely to have a positive outlook in all the major regions during 2019–2027. However, the year-on-year growth rate is set to get affected in 2020-2021 due to the COVID 19 pandemic. The mass lockdowns travel bans, and business shutdowns across all countries are affecting the global supply chains, thereby disrupting the sales and growth of companies operating in the global nano PLC market. Hence, this outbreak may act as a burning issue hindering the sales of nano PLCs in the short term while the overall growth is anticipated to have a lesser impact during the forecast period.
Increasing Trend Of Home And Building Automation
The reach of connected devices and the adoption of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) is succeeding at an unprecedented pace. Moreover, home and building automation is a fast-growing industry, which offers ample growth opportunities to nano PLC market players. Nano PLCs offer a cost-effective, less complex, and energy- and space-saving automation solution for the automation applications. Hence, the rising demand for innovative and flexible automation solutions in residential and commercial buildings is projected to boost the global nano PLC market growth during the forecast period.
Type-Based Market Insights
Based on type, the nano PLC market has been segmented into fixed nano PLC and modular nano PLC. The fixed nano PLC segment accounts for a larger share in the market. The fixed PLCs are less expensive, small, and ideal for domestic purposes as these have limited data storage capabilities.
Component-Based Market Insights
The nano PLC market, by component, has been segmented into hardware and software. The hardware segment captured a dominating share in the global nano PLC market in 2019. Various components of nano PLCs work together to pass information into PLC from a field, evaluate the information gathered, and send it back out to numerous fields. The lack of functioning of any component due to any possible reason may lead to functional interruptions in PLCs.
Industry-Based Market Insights
The nano PLC market, by industry, has been segmented into automotive, energy & power, home, and building automation, oil & gas, pharmaceuticals, metals & mining, and other industries. The automotive segment captured a dominating share in the global nano PLC market in 2019. With the growing adoption of advanced technologies such as process automation and industry 4.0, the use of nano PLCs is anticipated to increase in the coming years. The growing demand for automobiles, especially in the developing regions, owing to the rising disposable incomes is further anticipated to drive the demand for smart automation-related solutions, such as nano PLCs in the future. The other industries include food & beverages, water & wastewater, and pulp & paper.
Strategic Market Insights
The nano PLC market players adopt various new development strategies and take up several initiatives to expand their footprint worldwide by meeting the growing demand. These strategies are mostly implemented for expanding their business in APAC and Europe. The players present in the nano PLC market are adopting the strategy of expansion and investments in research and development to enlarge customer base across the world, which also permits them to maintain their brand presence and image globally.
The List of Companies - Nano PLC Market
1. Crouzet Automatismes SAS
2. Emerson Electric Co.
3. EZAutomation
4. IDEC Corporation
5. Keyence Corporation
6. Mitsubishi Electric Corporation
7. OMRON Corporation
8. Rockwell Automation, Inc.
9. Schneider Electric SE
10. Siemens AG
Source: The Insight Partners